| Author |
Message |
westhighland
Joined: 30 Aug 2007
Posts: 5
|
 Posted: Sat Mar 24, 2007 2:01 pm Post subject: Structuring a credit back at closing on a commercial real es |
 |
|
| I would like to get some insight in regards to how a buyer might be able to structure a commercial transaction in order to receive a substantial credit back at closing? |
|
| Back to top |
|
 |
youngturk
Joined: 08 Jun 2005
Posts: 3
|
| Posted: Wed Mar 28, 2007 5:51 am Post subject: Structuring a credit back at closing on a commercial real es |
|
|
| Read this, it will tell you all you need to know.http://www.greatpossibilities.com/articles/general/closing.shtml |
|
| Back to top |
|
|
RealtyShark
Joined: 21 Oct 2004
Posts: 5
|
| Posted: Sat Mar 31, 2007 9:42 pm Post subject: Structuring a credit back at closing on a commercial real es |
|
|
| Unless it's a cash sale, what you are describing is usually classified as mortgage fraud, a felony most places. The lender will not permit excess funds to be pulled out of a transaction; if they do, they are potentially parties to the fraud.Be very careful about trying to do this. There is huge sensitivity about this, and you will likely earn a jail sentence instead of the cash back. Part of the current lending crisis we are in is due to such activities, or similar. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in